TriMas (NASDAQ:TRS) Posts Quarterly Earnings Results, Misses Expectations By $0.14 EPS

TriMas (NASDAQ:TRS) released its quarterly earnings data on Monday. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14), Briefing.com reports. TriMas had a return on equity of 9.61% and a net margin of 4.44%. The firm had revenue of $229.36 million during the quarter, compared to analyst estimates of $239.33 million. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. TriMas updated its FY24 guidance to $1.70-1.90 EPS and its FY 2024 guidance to 1.700-1.900 EPS.

TriMas Stock Down 8.1 %

TRS stock opened at $24.87 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.82 and a quick ratio of 1.48. The company has a 50-day moving average of $25.83 and a two-hundred day moving average of $25.82. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 25.38 and a beta of 0.66. TriMas has a 52-week low of $22.45 and a 52-week high of $28.51.

TriMas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.16 annualized dividend and a yield of 0.64%. TriMas’s dividend payout ratio (DPR) is presently 16.33%.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and issued a $40.00 price objective on shares of TriMas in a report on Wednesday, October 9th.

TriMas Company Profile

TriMas Corporation engages in the design, development, manufacture, and sale of products for consumer products, aerospace, and industrial markets worldwide. The company operates through Packaging, Aerospace, and Specialty Products segments. The Packaging segment offers dispensing products, such as foaming and sanitizer pumps, lotion and hand soap pumps, beverage dispensers, perfume sprayers, and nasal and trigger sprayers; polymeric and steel caps and closures comprising food lids, flip-top and beverage closures, child resistance caps, drum and pail closures, and flexible spouts; polymeric jar products; integrated dispensers; bag-in-box products; and consumable vascular delivery and diagnostic test components under the Rieke, Taplast, Affaba & Ferrari, Intertech, Omega, and Rapak brands.